I like tech gear personally - though I adapt running/hiking/climbing gear for biking. Has most of the same properties - wicking, synthetic fabrics, etc. However, I'm a practical rider so I wear what's comfortable. In summer, it's cargo shorts, though for longer rides I throw on some lycra underneath with some crotch-saving chamois. In winter, I throw on some long running tights under my manpri's or cuffed jeans/pants.
I like the jersey/cargo shorts combo aesthetically. It makes sense - fitting tops and loose bottoms, easy to move, not easy to catch on. I need to find a jersey I actually like and at a price that's actually decent - the only branded jersey I'm fond of is the Gerolsteiner (
http://www.performancebike.com/shop/...00/10_4912.jpg).
I don't hate the spandex monkeys too much, I've seen quite a few that deserve to wear it.
In the end it's about us liking our "toys" - the things that make us feel alive.
As for clothing - it's function and form working together.